President Donald Trump signed his official establishment of tariffs on aluminum and steel on Thursday in a dramatic ceremony in the Oval Office.

The tariffs were exactly as he proposed them last week — 25 percent on steel, ten percent on aluminum.

Trump said that the tariffs were important to sign, citing the industry communities that were devastated by bad trade deals and failed promises from failed politicians.

“Our factories were left to rot and to rust all over the place,” Trump said. “Thriving communities were turned into ghost towns.”

During his remarks, Trump explained how fundamental the tough actions on trade and tariffs were to his presidency and the core his personal beliefs.

“Those who poured their souls into building this great nation were betrayed. But that betrayal is now over,” he said. “I’m delivering on a promise I made during the campaign and I’ve been making it for a good part of my life.”

Trump indicated that steel production was essential to national security, pointing out that the national capacity for both steel and aluminum had diminished.

“Steel is steel,” he said. “You don’t have steel you don’t have a country.”

President Donald Trump signed his official establishment of tariffs on aluminum and steel on Thursday in a dramatic ceremony in the Oval Office.

The tariffs were exactly as he proposed them last week — 25 percent on steel, ten percent on aluminum.

Trump said that the tariffs were important to sign, citing the industry communities that were devastated by bad trade deals and failed promises from failed politicians.

“Our factories were left to rot and to rust all over the place,” Trump said. “Thriving communities were turned into ghost towns.”

During his remarks, Trump explained how fundamental the tough actions on trade and tariffs were to his presidency and the core his personal beliefs.

“Those who poured their souls into building this great nation were betrayed. But that betrayal is now over,” he said. “I’m delivering on a promise I made during the campaign and I’ve been making it for a good part of my life.”

Trump indicated that steel production was essential to national security, pointing out that the national capacity for both steel and aluminum had diminished.

“Steel is steel,” he said. “You don’t have steel you don’t have a country.”

Trump is different in that he does seem to be following through with quite a bit of what he said he would. In a vacuum, I suppose that's commendable.

He's wrong from an economic perspective, obviously. But he's right from a political perspective, as there are indeed large numbers of people who believe that protectionist policies are beneficial.

They are not, of course.

I mean, they might be in the short term for a segment of the population. But in the long term (or even the medium term?) they are simply terrible.

None of this is real. Come on. From the micro (you're all Russian bots) to the macro (we're in a simulation of the past from some rich kid in 2813), let's just all agree that our lives are a beautiful fiction.

Sorry folks,these traiffs are a subsidy for the Aluminum and Steel industry paid for by the consumer and by all industries that are using tools of any kind. In the case of Brazil the US COAL industrie is gonna suffer! Check it out

No Rabbit, .. at the moment, we CANNOT say that Trump is wrong from an ''economic perspective'', because, we do not know how things will ULTIMATELY work out for the better or for the worse!

We have plenty of historical evidence of how protectionist policies work out. If you want some recent evidence, look at Bush's 2002 tariffs. Those reportedly lead to more job losses (among steel using industries) than the steel industry employed. There was also a sharp rise in costs for companies using steel.

That's if these tariffs go into full effect. They might not; Canada and Mexico (two of the largest steel importers) are already exempted, and Trump indicated other countries, like Australia, etc., might be exempted as well.

No Rabbit, .. at the moment, we CANNOT say that Trump is wrong from an ''economic perspective'', because, we do not know how things will ULTIMATELY work out for the better or for the worse!

Trump is addressing it, though.

Yes we do know.

Just like we would know if states started enacting tariffs on goods from other states.

And we would know the results if neighborhoods started enacting tariffs on goods made from outside of their neighborhoods.

Bad.

None of this is real. Come on. From the micro (you're all Russian bots) to the macro (we're in a simulation of the past from some rich kid in 2813), let's just all agree that our lives are a beautiful fiction.